Boiarkin, V., Rajarajan, M. and Asif, Waqar ORCID: https://orcid.org/0000-0001-6774-3050 (2021) Fair Pricing Model for Smart Grids. In: 9th International Conference on Smart Grid and Clean Energy Technologies (ICSGCE), 15-17 Oct 2021, Sarawak, Malaysia.

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Abstract

The demand for electricity is constantly growing, which leads to an increase in production, which in turn adversely affects the environment. Many countries integrate Renewable Energy Sources (RES) with the aim of decreasing the use of fossil fuels. Although there is more and more power coming from RES, some part of it is still lost due to the lack of motivation on the participants’ side to interact with each other. To attract more participants to the Smart Grid, thereby reducing the demand from the Utility Grid, it is necessary to ensure fair prices within the Smart Grid, that will be beneficial to all participants. Firstly, we consider the pricing issue considering the principle of how smart meters operate. Secondly, we propose a fair pricing model for the Smart Grid, as well as a method for determining an equilibrium price of buying and selling electricity. Finally, we evaluate the proposed model and provide the results, that prove its effectiveness.

Item Type:	Conference or Workshop Item (Paper)
ISSN:	2688-0857
ISBN:	9781665435512
Identifier:	10.1109/ICSGCE52779.2021.9621701
Identifier:	10.1109/ICSGCE52779.2021.9621701
Subjects:	Construction and engineering > Electrical and electronic engineering
Depositing User:	Marc Forster
Date Deposited:	17 Dec 2024 12:31
Last Modified:	17 Dec 2024 12:31
URI:	https://repository.uwl.ac.uk/id/eprint/13005

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